Regency Centers acquires Tech Ridge Center
Austin, Texas — Jacksonville, Fla.-based Regency Centers said it closed on the acquisition of Tech Ridge Center, an 187,529-sq.-ft. neighborhood shopping located in Austin, Texas, on Sept. 26.
Built in 2001, Tech Ridge Center is anchored by an 84,352-sq.-ft. H-E-B alongside national retailers including Office Depot, Petco, Subway and Massage Envy. The center is 93% occupied.
Tech Ridge Center is the fourth grocery-anchored center acquisition for Regency Centers this year, including Oak Shade Town Center in Davis, Calif., and Calhoun Commons and Rockridge Center in the Minneapolis market. Regency Centers owns 31 properties in Texas, including three centers in Austin totaling 677,000 sq. ft.
Shoppes at Hartford leases 24,000 sq. ft. of new retail
Madison, Wis. –Lee & Associates’ Madison office said it has completed $2.8 million of leases at The Shoppes at Hartford; a 24,000-sq.-ft. retail center in Hartford, Wis.
Located next to a new Wal-Mart Super Center, Lee Madison had the center 75% pre-leased before construction commenced and 100% leased before construction was finalized. Construction commenced April 1, and all tenants are expected to open before Christmas 2011.
The lessees at the 24,000-sq.-ft. center include Dollar Tree with 8,000 sq. ft., Game Stop with 2,000 sq. ft., Maurices with 5,000 sq. ft., Hibbett Sports with 5,000 sq. ft., Cash Store with 1,300 sq. ft., Great Clips with 1,300 sq. ft., and World Finance with 1,400 sq. ft.
Peruvian Atelier to open at West 7th development
Fort Worth, Texas –Dallas-based Cypress Equities said that its West 7th mixed-use development in Fort Worth, Texas, has signed specialty women’s fashion retailer Peruvian Atelier for a 2,357-sq.-ft. shop slated to open in late 2011.
The new store will be located between Flirt Boutique and the soon-to-open Keena’s.
West 7th is a blend of pedestrian-friendly urban elements positioned in a mixed-use community offering retail, entertainment, office and residential. Its retail and office components are being developed by a Cypress Equities company and the residential component by Columbus Realty Partners, LTD.